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What does GDP tell economists about business cycles?
economists follow the country's GDP and other key statistics to predict business cycles.
3 What does GDP tell economists about business cycles?
Economists follow the country's GDP and other key statistics to predict business cycles
What does gpd tell economists about business cycle?
Nominal GDP does not tell much, but real GDP tells a lot. If the real GDP has fallen from one year to another, it means that the economy is in depression. If it grows, it shows that the economy is booming. If there is no change, the economy is stagnant (i.e. it did not grow).
Why do economists prefer to compare real GDP figures for different years instead of GDP figures?
economists prefer to compare real gdp figures for different years instead of comparing nominal gdp figures. why?
What is recurring upswings and downswings in an economy's real GDP over time called?
business cycles
What does GDP tell economists about business cycles?
economists follow the country's GDP and other key statistics to predict business cycles.
3 What does GDP tell economists about business cycles?
Economists follow the country's GDP and other key statistics to predict business cycles
What does gpd tell economists about business cycle?
Nominal GDP does not tell much, but real GDP tells a lot. If the real GDP has fallen from one year to another, it means that the economy is in depression. If it grows, it shows that the economy is booming. If there is no change, the economy is stagnant (i.e. it did not grow).
Why do economists prefer to compare real GDP figures for different years instead of GDP figures?
economists prefer to compare real gdp figures for different years instead of comparing nominal gdp figures. why?
What is recurring upswings and downswings in an economy's real GDP over time called?
business cycles
In the US business cycles have occurred against a backdrop of a long-run trend of?
rising-real GDP
Why economists are concerned with GDP?
GDP is the most accurate way to determine if the economy is performing well.
. If economists calculate the GDP for 2009 using current prices of year 2009 what are they estimating?
nominal GDP
If economists calculate the GDP for 2009 using current prices of year 2009 what are they estimating?
nominal GDP
Why are economists always so concerned with GDP?
GDP is the most accurate way to determine if the economy is performing well.
What do economists use to determine if an economy is healthy or if it is in a recession or depression?
GDP
Why do economists use real GDP rather than nominal GDP to measure growth?
Real GDP reflects output more accurately than nominal GDP by using constant prices.
